ADR programme

An American Depositary Receipt (ADR) is a negotiable instrument representing ownership in securities of a non-US company. It’s a mechanism designed to allow US trading of non-US securities. ADRs are created when a broker purchases the non-US company's shares on the home stock market and delivers these shares to the Depositary. The Depositary bank then issues ADRs on the back of the underlying shares that are held in custody. Depositary Receipts can also be purchased in the US secondary trading market.

Trade in ADRs

Vernalis ADRs trade on the over-the–counter (OTC) market in the US under the symbol ‘VNLPY’, identified by the CUSIP number 92431M206.